How do I raise my credit score 100 points if it is under 600?
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Answer:
Make sure that if you are getting pre-approval forms for credit cards that you call the 800 number listed to 'opt out' of these. Every time you get one it lowers your credit rating! Obviously make sure you pay your bills on time and get any past due bills up to date. Make sure your credit card balances are not over half of the credit line. It takes some hard work and diligence to make this happen. Check your credit reports! Make sure there is no erroneous information on them! Good Luck. I know that people can disagree from time to time so I wanted to share this article. I am not willing to risk damage to my credit report just because credit card offers are 'NOT' suppose to damage my credit. Nothing is perfect as this article demonstrates. http://www.consumeraffairs.com/news04/2006/09/capital_one_blitz.html Exerpt: Although soft inquiries are not supposed to harm your overall credit rating, credit reporting bureaus are notorious for inaccurate listings of data, mixing up personal histories, and failing to report changes that could benefit consumers while preserving old or incorrect negative information, such as listing soft inquiries as hard inquiries that could lower a credit score. This could be what happened to ConsumerAffairs.com reader Eric, of Tucson, Arizona. "I noticed my monthly loan interests going up dramatically for no reason that I could identify," he said. "Further investigation showed that Capital One had queried my credit reports on a monthly basis. After enough queries had accumulated, and my credit score lowered, I ended up paying big money to my creditors who raised interest based on the lowered credit score caused by Capital One," Eric wrote. You've gotten lots of advice, but remember, it's your credit rating, not mine or the next guys. Have a great day!
COWIBRWE55ERA2OBFFLU4LJQ6E at Yahoo! Answers Visit the source
Other answers
Your credit score won't go up immediately but here are some advice, Pay your bills on time, if you have an existing loan pay in lumpsum, dont opt for a new credit card instead get a secured credit card. Take a small loan and pay the installments on time.
Tim
The only way to raise your credit score is to borrow money and make payments. The only way to keep your score high is to keep borrowing money and keep making payments on time. It's a system designed to keep you in debt. If you pay as you go. If you live on less money than you make. You will not have any payments. You will have money and you will not have to worship at the alter of the almighty fico score.
heybulldog
35% of your credit score is based on your bill payment history, so make sure you pay everything on time. 30% of your score is based on your credit usage versus how much credit has been granted, so make sure you pay down all your debts, not just credit cards. There's not much you can do about the length of your credit history except wait for time to pass.
lnbjameson
For a score under 600 you either have very little history or what history you have has a lot of negatives. 1. Get a copy of your credit report and make sure that everything is valid. If something is not correct dispute it. 2. If you have any items in collections work on getting those paid off. To do this send a letter by certified mail to each agency giving them your payment offer. In this include that once paid they will remove the listing. 3. Make sure your credit card balances are under 30% of your total credit lines. The more above 30% the more it hurts your score. 4. Make sure that all your bills are paid on-time every time By the way the previous answer who stated that every pre-screened offer you get lowers your score is incorrect. Those are "soft" inquiries and do not harm your score. However, if you do actually apply that becomes a "hard" inquiry which will lower your score a bit. Although the advise to remove yourself from these lists was a good one.
OC1999
Pay everything you owe and wait a couple of years
Jose V
pay your past due accounts and then wait.
Peilthetraveler
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